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$1,000-a-month lifetime lottery ticket auctioned for $40,000Reply
He cashed in the ticket years ago and was receiving the life annuity since then. The auction is for the rights to the remainder of the annuity during Magett's life. Hopefully the Bankruptcy Court put a contempt order in effect for the benefit of the auction winner. Most life annuity payments require you to prove you are still alive to get the payments like Michigan. Magett may have no incentive to help the auction winner get the annual $12,000 payment once the Bankruptcy case is over. It may
Jan 8, 2016, 10:54 pm - gatorsrok - Lottery News

Holy (SNIP) you won the Powerball... Champagne wishes and caviar dreams...Reply
In my state - assuming I continued to live in Washington (no state income tax) - and assuming a state income tax isn't voted into law, I'd end up with an annuity of $16,791,470.55 per year (after Federal taxes - using tax rates from Forbes Magazine). While this would certainly be an attractive option, I'd be hesitant to take the annuity option. Taxes that exist today may be totally different before the annuity paid out. And I recall that President Clinton was the first person to suggest a wealth
Jan 7, 2016, 11:06 pm - AlecWest - Lottery Discussion Forum

60 days to decide if lump sum or annuity, 180 days to claim. Huh?
So I read on some state lottery sites that you have 60 days time to decide whether you want your price as a lump sum or an annuity, but a whole 180 days to claim before you forfeit your prize. Does anybody know if you can verify your win and register your lump sum decision before actually claiming? My point is if I want to be paid the lump sum but want or need more than 60 days to assemble a team and a strategy, is that possible?
Jan 6, 2016, 5:34 am - MaximumMillions - Lottery Discussion Forum

$450 MILLION: Powerball sales bonanza sparks early jackpot increaseReply
MUSL estimates are all too often portrayed as fact by participating lotteries in promotional ads, and don't reflect reality. The #3 jackpot won in Florida a few years ago was widely advertised as $600 million annuity, and yet only paid out $590 million annuity. Deceptive. Sure, the FL winner still made out well, but many players who didn't win, played in large part, due to seeing the $600 million advertised number, which turned out be a faulty estimate - again, to reiterate, widely advertised
Jan 5, 2016, 3:07 pm - Ron5995 - Lottery News

Florida Lottery Holiday Millionaire RaffleReply
It's not going to matter. Since this is not an annuity payout your liability will rest in the state in which you resided upon the purchase of the ticket. This takes for granted you are a US citizen. So, unfortunately even if you move to Florida before you claim a prize, but after you purchased the ticket, your NC tax rate is going to apply. Also remember, the burden of proof is on you to prove you were a resident at the time of purchase, not the tax man to prove you were not. If it were an annui
Dec 30, 2015, 8:15 pm - realtorjim - Lottery Discussion Forum

Making the annuity option more attractive?Reply
Annuitizing over a longer period is what makes the jackpot seem bigger. Due to low interest rates, if the lotteries decreased the payout period then the annuity would be even less attractive than it is now. Given the above, the only time I would consider taking the annuity is if the cash prize is so large that you would experience diminishing utility from more upfront lump sum. For example, it is highly unlikely you would immediately know where all $400 million cash is going to be parked, inv
Oct 11, 2015, 4:45 pm - LottoMetro - Lottery Discussion Forum

Why people who won the jackpot frequently decide to choose money cash over annuity money?Reply
Every time players catch jackpot fever we get lots of inaccuracies and the government keeps any annuity money at death is just one of them. It would be interesting to go out and track down all the past winners, and see how much money they have now versus what they could've had, theoretically, with the annuity payments. Found something interesting on USA Mega; the gross annuity payment increases each year making the idea of the losing it all at death even more silly.
Feb 10, 2015, 8:45 pm - Stack47 - Lottery Discussion Forum

$485 MILLION: Powerball jackpot raisedReply
Lottery officials are challenged predicting jackpot size, but publicizing too accurate of an estimate early on can be counter-productive. I suspect the some of the jackpot revisions are intentional to drive sales. Seeing intermediate jackpot jumps gets people talking - this thread is a prime example. Not surprised the jackpot jump was relatively small. $300 million annuity just doesn't excite players the way it once did. And doubling the price hasn't helped matters. Even $400ish million, whil
Feb 10, 2015, 5:02 pm - Ron5995 - Lottery News

$485 MILLION: Powerball jackpot raisedReply
I'm guessing that even the MUSL people don't really have a good idea how big it will be. The biggest PB jackpot by cash value jumped $262 million from 325 to 587 for the annuity value. The advertised annuity value for current run went from 324.5 (final tally, originally advertised as 317) to 395.5, an increase of only $71 million. The cash value percentages are a bit different (65.5% then vs 67.6% now), but that's an 80% increase 27 months ago vs. a 22% increase now. If this one tops out at 5
Feb 10, 2015, 4:04 pm - KY Floyd - Lottery News

'Mirage' jackpotsReply
And there's no penalty for lottery officials being wrong. For example, the widely advertised Powerball jackpot of $600 million annuity, back in 2013, turned out to less when actually won at ~$590 million annuity. Not a huge difference, relatively speaking, but a difference nevertheless. I'm surprised Powerball lottery officials didn't pay the advertised amount (would have only cost them an additional ~$6 million), since some players, and at least one mainstream news article, noticed the discrepa
Feb 10, 2015, 1:43 pm - Ron5995 - Lottery Discussion Forum